If you’re a gym owner, you probably didn’t get into it for the money.
Chances are you fell in love with CrossFit, and maybe it gave you the courage to leave your corporate job and open a gym in hopes of paying forward to others what CrossFit has given you.
As a result, most gym owners don’t go into gym ownership with much business savvy, let alone a long-term plan of building their gym into a legitimate sellable asset that they can retire off of one day.
As Stu Brauer, a business consultant and the owner of WTF Gym Talk put it: “Gym owners don’t open their door thinking about an exit. If they did, they would do a lot of things differently.”
Similarly, Audrey Patterson, a business mentor with the Madlab Group, a company that has worked with more than 1,600 gyms in the last 15 years, said: “Most gym owners don’t have an actual exit or succession strategy.”
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